Aset virtual Hong Kong dari "pengaturan yang jelas" meningkat ke "adopsi yang luas", langkah selanjutnya bagaimana menerapkannya

Hong Kong virtual asset development enters a new phase. The Hong Kong Securities and Futures Professional Association recently stated that Hong Kong has completed the initial regulatory infrastructure in the virtual asset field, and the next focus should shift to the commercialization and application implementation. The government plans to announce the 2026/2027 fiscal budget on February 25, which will focus on virtual assets and investor protection, among other areas, indicating that policy support directions have been clarified. From “clear regulation” to “ample liquidity and widespread application,” Hong Kong is brewing a key upgrade.

Regulatory Infrastructure Completed, Why Shift to Commercialization and Application

The logic of this shift is very clear: the regulatory framework is just the foundation; the real value lies in application implementation. Hong Kong has put considerable effort into virtual asset regulation over the past few years, establishing a relatively clear rule system. But clear rules do not necessarily mean an active market, nor do they mean becoming a true global virtual asset hub.

According to the latest news, the Hong Kong Securities and Futures Professional Association has also submitted opinions to the government regarding the OECD crypto asset reporting framework, reflecting a move towards refined regulation. The association supports mandatory registration and expanding the scope of trading reports but also suggests reducing requirements for unreported activities and strengthening personal data protection. This shows that Hong Kong is seeking a balance—meeting international regulatory standards while leaving room for market development.

Four Paths to Commercialization and Application

How exactly to promote the implementation of commercialization and application? The Hong Kong Securities and Futures Professional Association has provided a clear direction:

• Facilitate liquidity in the RWA secondary market, enabling real assets to truly become tokenized and liquid
• Accelerate product approval processes, shortening the cycle for new product launches
• Introduce international liquidity to attract global capital participation
• Strengthen professional training for practitioners to improve industry standards

These four paths support each other. Liquidity is the lifeblood of the market; no matter how good a product is, it cannot survive without liquidity. Faster product approval means innovation can be implemented more quickly. Introducing international liquidity is key for Hong Kong to become a global center. Training practitioners may seem fundamental, but a professional team is the core of long-term competitiveness.

Connecting to the Larger National Strategy

This is not just Hong Kong’s matter. The Hong Kong Securities and Futures Professional Association explicitly states that it will align with the country’s “14th Five-Year Plan” for financial openness and digital economy strategies. This means that Hong Kong’s virtual asset center development has been incorporated into national strategic planning.

From clear regulation to widespread application, Hong Kong is upgrading from a “rule maker” to an “ecosystem builder.” The significance of this upgrade is not only local but also aligns with global standards, vying for influence and centrality in the virtual asset field.

Summary

Hong Kong’s virtual asset development has already passed the “from nothing to something” regulatory construction stage and is now entering the “from clarity to activity” application phase. The fiscal budget on February 25 will be an important window to observe how the Hong Kong government supports this shift at the policy level. The next focus is on the specific progress of these four paths, and whether key areas such as RWA liquidity and product approval can truly accelerate. The competition for a virtual asset center is no longer about rules but about application, liquidity, and ecosystem. Hong Kong’s next execution capability will determine whether it can truly become a global virtual asset hub.